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H1N1 spread triggers rush for health insurance

By Fei Ya (China Daily)
Updated: 2009-11-11 08:41

The growing number of H1N1 flu cases in the mainland has triggered a rush for insurance products as more and more people are trying to mitigate exposure and health risks.

The demand for H1N1 insurance products started to grow since last month after reports that the number of people affected by the disease has started to soar globally.

Sales of H1N1 insurance products by the Sichuan branch of Ping An Insurance Co of China rose 30 times in October compared with the average sales volume from June to September.

"I have been able to sell at least three to five H1N1 insurance contracts every day since last month. Most of my clients are people who are planning overseas trips," said a Ping An Insurance saleswoman surnamed Sun in Jinan, the capital city of Shandong province.

In Shenzhen, an increasing number of people have been flocking to insurers for H1N1 insurance consultancy.

"With the weather becoming colder, the number of people coming for consultancy has also doubled. It has also resulted in better sales volume," said a salesman surnamed Li from Ping An Insurance's Shenzhen branch.

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Ping An Insurance started to sell such products in May. Sun said she could hardly sell one contract in the first couple of months.

"At that time, most of the H1N1 cases were from overseas. People were still lacking in risk awareness," said Sun.

According to Sun, the H1N1 insurance contracts, designed by Ping An, could be divided into three types. One can pay 50 yuan ($7.32) for 20,000 yuan worth of coverage, or 100 yuan for 30,000 yuan worth of coverage, or 200 yuan for 80,000 yuan worth of coverage.

Another insurance company, Tai Ping Life Insurance, sells a similar product in four classifications. The coverage could be as high as 150,000 yuan in this case.

To better serve clients, many insurance companies, like CITIC Prudential Life Insurance, Generali China Life Insurance and AIA Life Insurance, have opened "green channels" to speed up compensation claims of customers.

Since the outbreak of the flu, many insurance companies have said that the standard medical care insurance and life insurance contracts would also cover H1N1 cases. People who bought such products can get compensation when they are admitted to hospitals for H1N1.

The companies, however, clarified that the standard contracts do not cover H1N1 casualties.